Public Provident Fund (PPF) scheme is a popular long term investment option backed by Government of India which offers safety with attractive Interest Rate and returns that are fully exempt from Tax.

Benefits

PPF Account with HDFC Bank offers benefits as :
Transfer funds online from linked Savings Account.
Standing Instruction facility can be set online
View account statement online

Features

Attractive Interest Rate of 7.8 % that is fully exempt from tax under Section 80C.
Good long term investment for 15 years.
Account can be extended for a block of 5 years after maturity.
Minimum deposit amount of Rs 500/- and maximum of Rs 1,50,000/- in a Financial Year.
If the minimum amount of Rs 500/- is not deposited in any financial year , a penalty of Rs 50/- will be charged.
Deposits can be done maximum in 12 transactions


Eligibility :

Account can be opened by Resident Individuals and Individuals on behalf of minor of whom he is guardian.

No joint PPF accounts are allowed.

Non-resident Indians (NRIs) are not eligible to open an account under the Public Provident Fund Scheme. However, a resident who becomes an NRI during the 15 years' tenure prescribed under Public Provident Fund Scheme may continue to subscribe to the fund until its maturity on a non-repatriation basis.

An individual can open only one PPF account and declare the same at the time of account opening.

For more Detials you may Contact to the nearest branch of the HDFC Bank